Why you Need a Broker When Buying Playa Del Carmen for Sale Homes and Condos
When people ask us the inevitable “why do I need a broker?” when buying Playa Del Carmen for sale homes and condos. Our answer is simple—guidance and protection.
Navigating the difficult world of real estate is complex enough on your home turf. But, when you add a new country, different language and different building standards it becomes more than Americans and Canadians can—or should—handle on their own!
The Simple Problem – You Don’t Know What you Don’t Know
There is one simple problem that requires the solution of an experienced real estate broker with Playa Del Carmen for sale homes, and it is this—you don’t know what you don’t know.
And what you don’t know can—and very likely might—hurt you.
Buying Playa Del Carmen for sale homes and condos is a serious investment. Whether it is your primary home, vacation home or investment property, this is a large investment that can offer you worry-free vacations and financial freedom…or a financial sinkhole.
Why You NEED an Experienced Broker – Protection & Knowledge
Protection and knowledge is critical when purchasing real estate in Mexico, specifically Playa Del Carmen for sale homes. But, in order to be protected and knowledgeable—you need to work with the best of the best.
There are a number of issues with Playa Del Carmen for sale homes, caused by the matrix of foreign-investment rules and customs in Mexico and Playa del Carmen. These cause a number of issues to be aware of, the primary ones being:
- Realtor Licensing
In the United States and Canada Realtors are very closely governed by licensing requirements and real estate board rules. In Mexico this isn’t the case. There isn’t a licensing board that requires initial or on-going training, which creates a patchwork of agents of varying knowledge. This means that you need a well-trained, experienced team when buying Playa Del Carmen for sale homes.
- Transactional Relationships
Many Realtors and builders here, selling Playa Del Carmen for sale homes, focus on selling one real estate project at a time. This creates a transactional real estate relationship that is highly focused on closing the sale. At American Development we focus on the long-term. We want not only your business time and time again—we also want your referrals. In fact over 80% of our business comes from referrals from past clients who we have gone the extra mile for.
- Legal Rules
The framework of not only real estate rules, but also how they relate to foreign investment is too complex an issue to address here. But, know that there are three bodies involved in the process: a Realtor, a lawyer and a notary. In order to safely navigate the legal process you need to construct an exceptional and uncompromised team. Luckily, we have already done this for you. Our real estate attorney is not only an experienced real estate attorney, but also a certified English-Spanish translator and an international tax attorney.
- Proof of Legality
Having crackerjack representation ensures that you get proof of legality—which is an absolute must-have for foreign investors. Without, you have no legal claim to the property that you have paid for. Our team ensures that you have the three necessary elements of legality: right of occupation, title and fee simple titles.
- Conflict of Interest
Unfortunately, in many cases of buying Playa Del Carmen for sale homes and condos, the legal team will represent both the developer and the Buyer. This conflict of interest can be extremely dangerous for the homebuyer that is buying Playa Del Carmen for sale property—as the lawyer doesn’t solely have the homebuyers best interests in mind. Here at American Development we use a real estate attorney who represents only us and our clients—and never the developer.
- Issues of Transparency & Risk: Due Diligence
Real estate in Playa del Carmen often lacks transparency. To give just one example, there have been developers in the past who sell units without fully-funding the project. At American Development, we ask to see that there is money in escrow for the completion of the project before we will allow our customers to invest. This type of due diligence is absolutely required to safeguard you when buying Playa Del Carmen for sale property.
There is no MLS system in Mexico or Playa del Carmen. What this means to foreign investors is that you need a team that has a built-in, successful marketing platform, and a knowledgeable brokerage that has their finger on the pulse of buying Playa Del Carmen for sale homes and condos. Without this, they are just selling you what they have available at the moment—and not the best property for your needs.
Language is always an issue when investing in a foreign country, and it can be a pervasive problem throughout the process. First, you need excellent communication with your Realtor, and then you need language representation throughout the legal process—because even the slightest mistranslation of words can turn the safety of your investment upside down.
The above issues involved with buying Playa Del Carmen for sale property and homes are only some of the things that you don’t know that you don’t know. This is why working with a Realtor or Broker from American Development is not a ‘nice to have’—but an actual need.
To learn more things that you don’t know that you don’t know, give us a call today.
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I used American Realty to help me buy my condo in Playa del Carmen… The first thing that I would like to say is that the whole staff was incredibly helpful. Doing a real estate transaction in a foreign country can be a very daunting experience and I don’t think I would have gone through with it without all the information that I was given as they walked me through the process. From initially explaining my options and the process, to finding the actual condo (that I love) and closing the transaction, they were patient with all my questions and made me feel very comfortable with my decision. My condo is about 4 blocks from the beach and very near the center of town and I couldn’t be happier! My family loves coming to Playa del Carmen and now we have our own place when we visit. A condo in the Caribbean that we can call our own and one that makes me a decent income while we aren’t here. All in all, I couldn’t be happier with my experience and would highly recommend using American Realty to buy or sell any real estate in Playa del Carmen.
I am not one to sit down and do a review unless I feel it was worth the effort. I flew to PDC in hopes of meeting a real estate agent I had set up before flying down. Two days in, no word. I was out walking and stumbled on to a the American Realty office on 5th Ave. American Realty and met Matthew. (this is their satellite office) I told him my price range. Next day bam! Looking at units in my price range and not trying to up sell. Visited a couple buildings under construction and made my decision to buy in PDC. The size suited me best. He made this an incredibly EASY buy for me. He set up the meetings with the lawyer, notary and translator. He picked me up and drove me to the lawyer office and their own office for paperwork. People fear buying in a foreign country. Mexico is fast, safe and secure. Everything is laid out in front of you. Money is incredibly easy to transfer in escrow, this was my biggest fear. What if it disappears?? Well it doesn't. It goes to a US company then back to Mexico. Lawyers act on my behalf to pay the developer as per terms. Matthew made all of this incredibly easy. He is efficient, on time and knows this area. Follow up questions are answered promptly. Many agents get their commission and you never hear from them. I asked Matthew if he could drive to the condo to update me with some photos. No problem for him! That is customer service. I recommend any Canadian or foreigner to meet him if you are planning to invest in PDC or area. Dealing with a fellow Canadian made it much more enjoyable and trusting. I am happy with the end result and happy that I met him. Feb 8 2019
Szilvia & Zoltan Galambosi
If you are looking for a property in Playa del Carmen, I would highly recommend American Realty! Theo and the office were brilliant in mapping out our needs and found a great property for us! Their services from the very first moment we met in their office on 5th Ave, till signing the contract were outstanding. They picked us up from the place we stayed at, drove us around introducing the different areas of Playa. Were accommodating and patient with our kids when we took them to view some of the properties. We got all the help we needed with the lawyers and managing the different bits of the contracting process. They have been taking care of us like old friends - and even now that the deal has closed they check in every once in a while, which is very nice. 🙂 So all in all - excellent service and great people! Thanks Theo and American Realty. 🙂 Szilvia & Zoltan - Nov 11 2019
Steve and Annie Smith
My Wife and I worked with Theo during our house hunting trip in September 2019. Process was completed in one day. He showed us exactly what we were looking for in the price range requested. Did not waste our time. Offer made and accepted. Theo worked with us during the entire process lining up the legal team to help us through the process of purchasing property in Mexico. Theo has been there to help us with any and all questions we might have and has been there for us AFTER the sale with questions not related to the purchase of the property (getting a car, setting up WIFI, VPN, TV service, electric, etc). We got a great place and a new friend out of the deal. Highly recommend Theo and America Realty if you are buying property in Mexico. Feb 26 2020
Christopher and Sheila
Everyother agency turned us away and said that we could not find what we were looking for in our price range. We believed it until American Realty was recommended to us through a random encounter. Feeling defeated and thought we’d take one last shot we talked with one of the agents from Canada and within ten minutes after walking into his office he explained that he may have something. So we set up a viewing the next day and sure enough he found it! Hit it right on the head. Amazing job! I’d highly recommend their services for anyone interested in real estate in Playa Del Carmen.
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